Brokerages Set Exelixis, Inc. (NASDAQ:EXEL) PT at $32.44

Shares of Exelixis, Inc. (NASDAQ:EXEL) have received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $33.00.

Several equities research analysts have recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $29.00 price objective on shares of Exelixis in a research note on Wednesday, September 18th. The Goldman Sachs Group raised Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. BMO Capital Markets lowered Exelixis from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $36.00 to $40.00 in a report on Friday, December 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $34.00 target price on shares of Exelixis in a report on Wednesday, October 30th. Finally, Guggenheim increased their price target on shares of Exelixis from $33.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday.

Insider Activity

In other Exelixis news, EVP Patrick J. Haley sold 10,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $35.27, for a total transaction of $352,700.00. Following the transaction, the executive vice president now directly owns 278,665 shares of the company’s stock, valued at $9,828,514.55. This trade represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Hessekiel sold 60,000 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $36.67, for a total transaction of $2,200,200.00. Following the sale, the executive vice president now directly owns 486,059 shares of the company’s stock, valued at $17,823,783.53. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 314,736 shares of company stock worth $10,849,110 in the last ninety days. Company insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Exelixis

Several institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its holdings in shares of Exelixis by 11.1% during the second quarter. Commonwealth Equity Services LLC now owns 142,207 shares of the biotechnology company’s stock valued at $3,195,000 after acquiring an additional 14,174 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Exelixis during the second quarter worth approximately $2,347,000. Victory Capital Management Inc. raised its stake in Exelixis by 15.2% in the 2nd quarter. Victory Capital Management Inc. now owns 116,806 shares of the biotechnology company’s stock valued at $2,625,000 after purchasing an additional 15,368 shares during the last quarter. LSV Asset Management lifted its holdings in Exelixis by 107.7% in the 2nd quarter. LSV Asset Management now owns 5,763,728 shares of the biotechnology company’s stock valued at $129,511,000 after purchasing an additional 2,989,021 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in Exelixis by 89,717.4% in the 2nd quarter. Quest Partners LLC now owns 41,316 shares of the biotechnology company’s stock valued at $928,000 after purchasing an additional 41,270 shares in the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.

Exelixis Price Performance

Shares of NASDAQ:EXEL opened at $34.50 on Friday. The business’s 50-day moving average is $34.84 and its 200 day moving average is $28.71. Exelixis has a 1 year low of $20.01 and a 1 year high of $36.97. The firm has a market capitalization of $9.85 billion, a P/E ratio of 22.12, a P/E/G ratio of 0.88 and a beta of 0.52.

Exelixis (NASDAQ:EXEL) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $539.50 million for the quarter, compared to the consensus estimate of $490.31 million. Exelixis had a net margin of 22.43% and a return on equity of 20.99%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, analysts expect that Exelixis will post 1.69 EPS for the current year.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.